Cardano [ADA]’s Charles Hoskinson says he will ‘eat his own shoe’ if Shelley does not happen this year

2019-04-28

Charles Hoskinson, the Chief Executive Officer [CEO] of IOHK, the organization that takes care of projects such as Cardano [ADA] and Ethereum Classic [ETC] has always been a vocal proponent of the cryptocurrency space and his regular Ask Me Anything [AMA] sessions are a key example of this fact.

In the latest AMA, Hoskinson addressed the software compatibility for Staking and the ways to prevent and provide countermeasures on the ADA network in case of a 51 percent attack. He stated that the Windows OS will receive support for staking as he was a huge fan of the OS and because of the reliability of the system. Talking about the much-awaited Shelley mainnet release, Hoskinson said:

“Shelley will happen this year a 100 percent. I will eat my own shoe, if it does not.”

The Shelley Project aims to become a fully decentralized and autonomous network with three main work streams to help provide decentralization. Liz Bancroft Turner, Project Manager at IOHK had earlier stated:

“For incentives, this is about encouraging stakeholders to follow the protocol and assure that the system runs smoothly for delegation this is about allowing users to hand over their right to sign blocks to a third party and for networking it’s about enabling the infrastructure to support decentralization.”

During the AMA session, the Cardano proponent was also asked about the process of handling a 51 percent attack on the network if it ever happens. Hoskinson responded by saying that Cardano’s high market cap made it very hard to stage a 51 percent attack in the first place. According to him, conducting a sustained attack becomes more and more difficult as the price of ADA shoots up, making the entire procedure very expensive. To be on the safe side, the IOHK CEO provided solutions. He said,

“The first process in mitigation is to freeze the perpetrators in the network by conducting a soft fork or a hard fork. This will only affect the individuals and not the network, in a way it may even increase the value of ADA. There are also checkpoints provided at relative intervals provided with trusted hardware.”